PUBLISHER: Grand View Research | PRODUCT CODE: 1530205
PUBLISHER: Grand View Research | PRODUCT CODE: 1530205
Home Insurance Market Size, Share & Trends Analysis Report By Coverage, By Distribution Channel, By End Use, By Region, And Segment Forecasts, 2024 - 2030
Home Insurance Market Size & Trends
The global home insurance market size was estimated at USD 247.92 billion in 2023 and is expected to expand at a CAGR of 8.3% from 2024 to 2030. Home insurance provides financial protection to an individual against all the damages and losses that happen to their residence. Home insurance is also known as household insurance, private property insurance, or homeowner's insurance. Home insurance covers not only damages to the property of individuals but also the legal responsibility or liability for any property damage and injuries by policyholders.
The increasing demand for customized home insurance products is anticipated to propel the home insurance market growth. Nowadays, customers are focusing on adopting insurance products that are tailored or customized to their specific preferences and needs. As a result, insurance providers are also responding by providing more flexibility and expanding coverage options. Various factors, such as the rising need for comprehensive insurance coverage coupled with the increasing awareness of risks and challenges involved with home ownership, are expected to fuel the adoption of home insurance products over the forecast period.
The home insurance market is witnessing an increase in the adoption of technologies, such as big data, blockchain, data analytics, Artificial Intelligence (AI), Application Program Interface (API), and geolocation, among others. These technologies are providing innovative opportunities for home insurance providers in the market. Furthermore, by making use of these technological developments, home insurance companies will be able to enhance the distribution platform's productivity. The technology-integrated insurance products will enable businesses to manage renter's insurance and additional living expenses. In addition, digital transformation allows home insurance businesses to create personalized user experiences with their customers.
Another key factor driving home insurance market's growth is the increasing urbanization and the expansion of residential real estate. As more people move to urban areas and invest in new homes, the demand for home insurance rises accordingly. This trend is particularly notable in developing regions where urban development is rapidly progressing. The surge in home ownership, coupled with the growing need for financial protection, is significantly boosting the home insurance market.
On the other hand, a significant factor restraining the home insurance market's growth is the rising incidence of fraudulent claims. This issue increases the overall cost for insurance companies, which, in turn, leads to higher premiums for policyholders. The fear of fraud can also lead insurers to implement stricter underwriting processes, making it more difficult for consumers to obtain coverage. These challenges not only increase costs but also reduce accessibility, thereby limiting the market's growth potential.
Global Home Insurance Market Segmentation
The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the home insurance market based on coverage, distribution channel, end use, and region.
- Coverage Outlook (Revenue, USD Billion, 2018 - 2030)
- Comprehensive Coverage
- Dwelling Coverage
- Content Coverage
- Other Optional Coverage
- Distribution Channel Outlook (Revenue, USD Billion, 2018 - 2030)
- Tied Agents & Branches
- Brokers
- Others
- End Use Outlook (Revenue, USD Billion, 2018 - 2030)
- Landlords
- Tenants
- Regional Outlook (Revenue, USD Billion, 2018 - 2030)
- North America
U.S.
Canada
Mexico
- Europe
Germany
UK
France
- Asia Pacific
China
India
Japan
South Korea
Australia
- Latin America
Brazil
- Middle East & Africa (MEA)
UAE
Kingdom of Saudi Arabia (KSA)
South Africa
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segmental Outlook
- 2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, and Scope
- 3.1. Market Introduction/Lineage Outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Market Dynamics
- 3.3.1. Market Driver Impact Analysis
- 3.3.2. Market Challenge Impact Analysis
- 3.3.3. Market Opportunity Impact Analysis
- 3.4. Home Insurance Market Analysis Tools
- 3.4.1. Porter's Analysis
- 3.4.1.1. Bargaining power of the suppliers
- 3.4.1.2. Bargaining power of the buyers
- 3.4.1.3. Threats of substitution
- 3.4.1.4. Threats from new entrants
- 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL Analysis
- 3.4.2.1. Political landscape
- 3.4.2.2. Economic and Social landscape
- 3.4.2.3. Technological landscape
- 3.4.2.4. Environmental landscape
- 3.4.2.5. Legal landscape
- 3.4.1. Porter's Analysis
Chapter 4. Home Insurance Market: Coverage Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Home Insurance Market: Coverage Movement Analysis, USD Billion, 2023 & 2030
- 4.3. Comprehensive Coverage
- 4.3.1. Comprehensive Coverage Markets Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.4. Dwelling Coverage
- 4.4.1. Dwelling Coverage Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.5. Content Coverage
- 4.5.1. Content Coverage Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.6. Other Optional Coverages
- 4.6.1. Other Optional Coverages Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 5. Home Insurance Market: Distribution Channel Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Home Insurance Market: Distribution Channel Movement Analysis, USD Billion, 2023 & 2030
- 5.3. Tied Agents & Branches
- 5.3.1. Tied Agents & Branches Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.4. Brokers
- 5.4.1. Brokers Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.5. Others
- 5.5.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 6. Home Insurance Market: End Use Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Home Insurance Market: End Use Movement Analysis, USD Billion, 2023 & 2030
- 6.3. Landlords
- 6.3.1. Landlords Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.4. Tenants
- 6.4.1. Tenants Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 7. Home Insurance Market: Regional Estimates & Trend Analysis
- 7.1. Home Insurance Market Share, By Region, 2023 & 2030, USD Billion
- 7.2. North America
- 7.2.1. North America home insurance market estimates & forecasts, 2018 - 2030 (USD Billion)
- 7.2.2. U.S.
- 7.2.2.1. U.S. home insurance market estimates & forecasts, 2018 - 2030 (USD Billion)
- 7.2.3. Canada
- 7.2.3.1. Canada home insurance market estimates & forecasts, 2018 - 2030 (USD Billion)
- 7.2.4. Mexico
- 7.2.4.1. Mexico home insurance market estimates & forecasts, 2018 - 2030 (USD Billion)
- 7.3. Europe
- 7.3.1. Europe home insurance market estimates & forecasts, 2018 - 2030 (USD Billion)
- 7.3.2. UK
- 7.3.2.1. UK home insurance market estimates & forecasts, 2018 - 2030 (USD Billion)
- 7.3.3. Germany
- 7.3.3.1. Germany home insurance market estimates & forecasts, 2018 - 2030 (USD Billion)
- 7.3.4. France
- 7.3.4.1. France home insurance market estimates & forecasts, 2018 - 2030 (USD Billion)
- 7.4. Asia Pacific
- 7.4.1. Asia Pacific home insurance market estimates & forecasts, 2018 - 2030 (USD Billion)
- 7.4.2. China
- 7.4.2.1. China home insurance market estimates & forecasts, 2018 - 2030 (USD Billion)
- 7.4.3. India
- 7.4.3.1. India home insurance market estimates & forecasts, 2018 - 2030 (USD Billion)
- 7.4.4. Japan
- 7.4.4.1. Japan home insurance market estimates & forecasts, 2018 - 2030 (USD Billion)
- 7.4.5. South Korea
- 7.4.5.1. South Korea home insurance market estimates & forecasts, 2018 - 2030 (USD Billion)
- 7.4.6. Australia
- 7.4.6.1. Australia home insurance market estimates & forecasts, 2018 - 2030 (USD Billion)
- 7.5. Latin America
- 7.5.1. Latin America home insurance market estimates & forecasts, 2018 - 2030 (USD Billion)
- 7.5.2. Brazil
- 7.5.2.1. Brazil home insurance market estimates & forecasts, 2018 - 2030 (USD Billion)
- 7.6. Middle East & Africa
- 7.6.1. Middle East & Africa home insurance market estimates & forecasts, 2018 - 2030 (USD Billion)
- 7.6.2. The Kingdom of Saudi Arabia (KSA)
- 7.6.2.1. The Kingdom of Saudi Arabia (KSA) home insurance market estimates & forecasts, 2018 - 2030 (USD Billion)
- 7.6.3. UAE
- 7.6.3.1. UAE home insurance market estimates & forecasts, 2018 - 2030 (USD Billion)
- 7.6.4. South Arica
- 7.6.4.1. South Africa home insurance market estimates & forecasts, 2018 - 2030 (USD Billion)
Chapter 8. Competitive Landscape
- 8.1. Recent Developments & Impact Analysis by Key Market Participants
- 8.2. Company Categorization
- 8.3. Company Market Positioning
- 8.4. Company Market Share Analysis
- 8.5. Company Heat Map Analysis
- 8.6. Strategy Mapping
- 8.6.1. Expansion
- 8.6.2. Mergers & Acquisition
- 8.6.3. Partnerships & Collaborations
- 8.6.4. New Product Launches
- 8.6.5. Research And Development
- 8.7. Company Profiles
- 8.7.1. Zurich
- 8.7.1.1. Participant's Overview
- 8.7.1.2. Financial Performance
- 8.7.1.3. Product Benchmarking
- 8.7.1.4. Recent Developments
- 8.7.2. Chubb
- 8.7.2.1. Participant's Overview
- 8.7.2.2. Financial Performance
- 8.7.2.3. Product Benchmarking
- 8.7.2.4. Recent Developments
- 8.7.3. American International Group, Inc.
- 8.7.3.1. Participant's Overview
- 8.7.3.2. Financial Performance
- 8.7.3.3. Product Benchmarking
- 8.7.3.4. Recent Developments
- 8.7.4. Liberty Mutual Insurance
- 8.7.4.1. Participant's Overview
- 8.7.4.2. Financial Performance
- 8.7.4.3. Product Benchmarking
- 8.7.4.4. Recent Developments
- 8.7.5. Admiral
- 8.7.5.1. Participant's Overview
- 8.7.5.2. Financial Performance
- 8.7.5.3. Product Benchmarking
- 8.7.5.4. Recent Developments
- 8.7.6. State Farm Mutual Automobile Insurance Company
- 8.7.6.1. Participant's Overview
- 8.7.6.2. Financial Performance
- 8.7.6.3. Product Benchmarking
- 8.7.6.4. Recent Developments
- 8.7.7. Allstate Insurance Company
- 8.7.7.1. Participant's Overview
- 8.7.7.2. Financial Performance
- 8.7.7.3. Product Benchmarking
- 8.7.7.4. Recent Developments
- 8.7.8. Allianz
- 8.7.8.1. Participant's Overview
- 8.7.8.2. Financial Performance
- 8.7.8.3. Product Benchmarking
- 8.7.8.4. Recent Developments
- 8.7.9. PICC
- 8.7.9.1. Participant's Overview
- 8.7.9.2. Financial Performance
- 8.7.9.3. Product Benchmarking
- 8.7.9.4. Recent Developments
- 8.7.10. Nationwide
- 8.7.10.1. Participant's Overview
- 8.7.10.2. Financial Performance
- 8.7.10.3. Product Benchmarking
- 8.7.10.4. Recent Developments
- 8.7.1. Zurich
List of Tables
- Table 1. Home insurance market, (USD Billion) , 2018 - 2030
- Table 2. Global market estimates and forecasts, by region, 2018 - 2030 (USD Billion)
- Table 3. Global market estimates and forecasts, by coverage, 2018 - 2030 (USD Billion)
- Table 4. Global market estimates and forecasts, by distribution channel, 2018 - 2030 (USD Billion)
- Table 5. Global market estimates and forecasts, by end use, 2018 - 2030 (USD Billion)
- Table 6. Comprehensive coverage home insurance market, by region, 2018 - 2030 (USD Billion)
- Table 7. Dwelling coverage home insurance market, by region, 2018 - 2030 (USD Billion)
- Table 8. Content coverage home insurance market, by region, 2018 - 2030 (USD Billion)
- Table 9. Other optional coverages home insurance market, by region, 2018 - 2030 (USD Billion)
- Table 10. Tied agents & branches home insurance market, by region, 2018 - 2030 (USD Billion)
- Table 11. Brokers home insurance market, by region, 2018 - 2030 (USD Billion)
- Table 12. Others home insurance market, by region, 2018 - 2030 (USD Billion)
- Table 13. Landlords home insurance market, by region, 2018 - 2030 (USD Billion)
- Table 14. Tenants home insurance market, by region, 2018 - 2030 (USD Billion)
- Table 15. North America home insurance market, by coverage, 2018 - 2030 (USD Billion)
- Table 16. North America home insurance market, by distribution channel, 2018 - 2030 (USD Billion)
- Table 17. North America home insurance market, by end use, 2018 - 2030 (USD Billion)
- Table 18. U.S. home insurance market, by coverage, 2018 - 2030 (USD Billion)
- Table 19. U.S. home insurance market, by distribution channel, 2018 - 2030 (USD Billion)
- Table 20. U.S. home insurance market, by end use, 2018 - 2030 (USD Billion)
- Table 21. Canada home insurance market, by coverage, 2018 - 2030 (USD Billion)
- Table 22. Canada home insurance market, by distribution channel, 2018 - 2030 (USD Billion)
- Table 23. Canada home insurance market, by end use, 2018 - 2030 (USD Billion)
- Table 24. Mexico home insurance market, by coverage, 2018 - 2030 (USD Billion)
- Table 25. Mexico home insurance market, by distribution channel, 2018 - 2030 (USD Billion)
- Table 26. Mexico home insurance market, by end use, 2018 - 2030 (USD Billion)
- Table 27. Europe home insurance market, by coverage, 2018 - 2030 (USD Billion)
- Table 28. Europe home insurance market, by distribution channel, 2018 - 2030 (USD Billion)
- Table 29. Europe home insurance market, by end use, 2018 - 2030 (USD Billion)
- Table 30. UK home insurance market, by coverage, 2018 - 2030 (USD Billion)
- Table 31. UK home insurance market, by distribution channel, 2018 - 2030 (USD Billion)
- Table 32. UK home insurance market, by end use, 2018 - 2030 (USD Billion)
- Table 33. Germany home insurance market, by coverage, 2018 - 2030 (USD Billion)
- Table 34. Germany home insurance market, by distribution channel, 2018 - 2030 (USD Billion)
- Table 35. Germany home insurance market, by end use, 2018 - 2030 (USD Billion)
- Table 36. France home insurance market, by coverage, 2018 - 2030 (USD Billion)
- Table 37. France home insurance market, by distribution channel, 2018 - 2030 (USD Billion)
- Table 38. France home insurance market, by end use, 2018 - 2030 (USD Billion)
- Table 39. Asia Pacific home insurance market, by coverage, 2018 - 2030 (USD Billion)
- Table 40. Asia Pacific home insurance market, by distribution channel, 2018 - 2030 (USD Billion)
- Table 41. Asia Pacific home insurance market, by end use, 2018 - 2030 (USD Billion)
- Table 42. China home insurance market, by coverage, 2018 - 2030 (USD Billion)
- Table 43. China home insurance market, by distribution channel, 2018 - 2030 (USD Billion)
- Table 44. China home insurance market, by end use, 2018 - 2030 (USD Billion)
- Table 45. India home insurance market, by coverage, 2018 - 2030 (USD Billion)
- Table 46. India home insurance market, by distribution channel, 2018 - 2030 (USD Billion)
- Table 47. India home insurance market, by end use, 2018 - 2030 (USD Billion)
- Table 48. Japan home insurance market, by coverage, 2018 - 2030 (USD Billion)
- Table 49. Japan home insurance market, by distribution channel, 2018 - 2030 (USD Billion)
- Table 50. Japan home insurance market, by end use, 2018 - 2030 (USD Billion)
- Table 51. South Korea home insurance market, by coverage, 2018 - 2030 (USD Billion)
- Table 52. South Korea home insurance market, by distribution channel, 2018 - 2030 (USD Billion)
- Table 53. South Korea home insurance market, by end use, 2018 - 2030 (USD Billion)
- Table 54. Australia home insurance market, by coverage, 2018 - 2030 (USD Billion)
- Table 55. Australia home insurance market, by distribution channel, 2018 - 2030 (USD Billion)
- Table 56. Australia home insurance market, by end use, 2018 - 2030 (USD Billion)
- Table 57. Latin America home insurance market, by coverage, 2018 - 2030 (USD Billion)
- Table 58. Latin America home insurance market, by distribution channel, 2018 - 2030 (USD Billion)
- Table 59. Latin America home insurance market, by end use, 2018 - 2030 (USD Billion)
- Table 60. Brazil home insurance market, by coverage, 2018 - 2030 (USD Billion)
- Table 61. Brazil home insurance market, by distribution channel, 2018 - 2030 (USD Billion)
- Table 62. Brazil home insurance market, by end use, 2018 - 2030 (USD Billion)
- Table 63. MEA home insurance market, by coverage, 2018 - 2030 (USD Billion)
- Table 64. MEA home insurance market, by distribution channel, 2018 - 2030 (USD Billion)
- Table 65. MEA home insurance market, by end use, 2018 - 2030 (USD Billion)
- Table 66. Kingdom of Saudi Arabia (KSA) home insurance market, by coverage, 2018 - 2030 (USD Billion)
- Table 67. Kingdom of Saudi Arabia (KSA) home insurance market, by distribution channel, 2018 - 2030 (USD Billion)
- Table 68. Kingdom of Saudi Arabia (KSA) home insurance market, by end use, 2018 - 2030 (USD Billion)
- Table 69. UAE home insurance market, by coverage, 2018 - 2030 (USD Billion)
- Table 70. UAE home insurance market, by distribution channel, 2018 - 2030 (USD Billion)
- Table 71. UAE home insurance market, by end use, 2018 - 2030 (USD Billion)
- Table 72. South Africa home insurance market, by coverage, 2018 - 2030 (USD Billion)
- Table 73. South Africa home insurance market, by distribution channel, 2018 - 2030 (USD Billion)
- Table 74. South Africa home insurance market, by end use, 2018 - 2030 (USD Billion)
- Table 75. Company Market Share, 2023
- Table 76. Company Heat Map Analysis
- Table 77. Key companies undergoing expansion
- Table 78. Key companies undergoing collaborations
- Table 79. Key companies undergoing new product launch
- Table 80. Key companies undergoing mergers & acquisitions
- Table 81. Key companies undergoing other strategies
List of Figure
Fig. 1. Home Insurance Market Segmentation
Fig. 2. Information procurement
Fig. 3. Data analysis models
Fig. 4. Market formulation and validation
Fig. 5. Data validating & publishing
Fig. 6. Market snapshot
Fig. 7. Segment snapshot
Fig. 8. Competitive landscape snapshot
Fig. 9. Parent market value, 2023 (USD Billion)
Fig. 10. Home insurance market - industry value chain analysis
Fig. 11. Home insurance market dynamics
Fig. 12. Home insurance market : Porter's analysis
Fig. 13. Home insurance market: PESTEL analysis
Fig. 14. Home insurance market , by coverage: key takeways
Fig. 15. Home insurance market , by coverage: market share, 2023 & 2030
Fig. 16. Home insurance market estimates & forecasts, by comprehensive coverage, 2018 - 2030, (USD Billion)
Fig. 17. Home insurance market estimates & forecasts, by dwelling coverage, 2018 - 2030, (USD Billion)
Fig. 18. Home insurance market estimates & forecasts, by content coverage, 2018 - 2030, (USD Billion)
Fig. 19. Home insurance market estimates & forecasts, by other optional coverages, 2018 - 2030, (USD Billion)
Fig. 20. Home insurance market , by distribution channel: key takeways
Fig. 21. Home insurance market , by distribution channel: market share, 2023 & 2030
Fig. 22. Home insurance market estimates & forecasts, by tied agents & branches, 2018 - 2030, (USD Billion)
Fig. 23. Home insurance market estimates & forecasts, by brokers, 2018 - 2030, (USD Billion)
Fig. 24. Home insurance market estimates & forecasts, by others, 2018 - 2030, (USD Billion)
Fig. 25. Home insurance market , by end use: key takeways
Fig. 26. Home insurance market , by end use: market share, 2023 & 2030
Fig. 27. Home insurance market estimates & forecasts, by landlords, 2018 - 2030, (USD Billion)
Fig. 28. Home insurance market estimates & forecasts, by tenants, 2018 - 2030, (USD Billion)
Fig. 29. North America home insurance market, 2018 - 2030, (USD Billion)
Fig. 30. U.S. home insurance market, 2018 - 2030, (USD Billion)
Fig. 31. Canada home insurance market, 2018 - 2030, (USD Billion)
Fig. 32. Mexico home insurance market, 2018 - 2030, (USD Billion)
Fig. 33. Europe home insurance market, 2018 - 2030, (USD Billion)
Fig. 34. UK home insurance market, 2018 - 2030, (USD Billion)
Fig. 35. Germany home insurance market, 2018 - 2030, (USD Billion)
Fig. 36. France home insurance market, 2018 - 2030, (USD Billion)
Fig. 37. Asia Pacific home insurance market, 2018 - 2030, (USD Billion)
Fig. 38. China home insurance market, 2018 - 2030, (USD Billion)
Fig. 39. India home insurance market, 2018 - 2030, (USD Billion)
Fig. 40. Japan home insurance market, 2018 - 2030, (USD Billion)
Fig. 41. South Korea home insurance market, 2018 - 2030, (USD Billion)
Fig. 42. Australia home insurance market, 2018 - 2030, (USD Billion)
Fig. 43. Latin America home insurance market, 2018 - 2030, (USD Billion)
Fig. 44. Brazil home insurance market, 2018 - 2030, (USD Billion)
Fig. 45. Middle East & Africa home insurance market, 2018 - 2030, (USD Billion)
Fig. 46. Kingdom of Saudi Arabia (KSA) home insurance market, 2018 - 2030, (USD Billion)
Fig. 47. UAE home insurance market, 2018 - 2030, (USD Billion)
Fig. 48. South Africa home insurance market, 2018 - 2030, (USD Billion)
Fig. 49. Key company categorization
Fig. 50. Company market positioning
Fig. 51. Company market share analysis, 2023
Fig. 52. Strategic framework
